IBT Staff Reporter

The old cliche that when America sneezes the rest of the world catches cold is about to be tested and this time it may be just the U.S. economy that ends up with the major aches and pains.

Indian shares rose more than 1 percent on Thursday to their highest close in over four months on sustained buying in blue-chips such as ICICI Bank Ltd., ITC Ltd. and Hindustan Lever Ltd.

The FTSE 100 fell on Friday, with Wall Street seen extending losses after a Philadelphia Federal Reserve survey sparked concerns over U.S. growth and corporate profitability

Fund managers are keeping their cool in the face of Russian political risk as western oil majors come under pressure and state control of business grows.

Saipem SpA, an Italian oil services company, said Friday it won two new contracts in Peru and Saudi Arabia worth $1.42 billion.

Merck & Co Inc's Gardasil, the first vaccine to prevent cervical cancer, has been approved for sale in the European Union

Complaints against banks continue to rise, led by a rise in criticisms about loans and overdrafts and default charges

Microsoft Corp. said on Thursday it may offer a free, advertising-supported version of its basic word processing and spreadsheet software, in an apparent bid to fend off a nascent challenge from Google Inc. in the business software market.

If the prospect of air travel is no longer alluring for security, environmental or other reasons, check in at www.seat61.com, an online travelogue that has evolved into an information bank on alternatives to air.

Elementis Group Plc, the Chemicals firm today announced Bob Beeston as its new Chairman effective immediately.

World's largest computer service company, IBM Corp. has announced that it will establish a new software development center in Calcutta, West Bengal, and hire upto 3000 new staff to meet the robust demand for outsourcing.

A court in India on Friday lifted a state ban on Coca-Cola and PepsiCo drinks, which had been imposed after an environmental group said they contained unsafe levels of pesticides.

Nike Inc., the world's No. 1 sport shoe and apparel maker, on Thursday posted quarterly earnings above Wall Street targets, boosting its shares nearly 6 percent and easing some fears that pricey styles bearing its signature swoosh were losing their luster.

European Central Bank governing council member Erkki Liikanen said on Friday that vigilance was needed on inflation despite a sharp fall in oil prices.

Volkswagen and its German workers union are set to resume critical talks over planned wage cuts on Friday

New Star Asset Management said on Friday its assets under management rose 7 percent in the six months to the end of June

VAT cheats stole 12.6 billion euros, nearly 8.5 billion pounds, from the Treasury in the year to June, five times more than any other European Union country

Volkswagen and its German workers union are set to resume critical talks over planned wage cuts on Friday, overshadowed by a threat from its influential works council chief to break off the talks if no immediate progress is made.

MFI Furniture Group has agreed to sell its loss making retail operations to private equity group Merchant Equity Partners (MEP) for a nominal 1 pound

U.S. consumer products giant Procter & Gamble Co. has suspended sales of its SK-II skincare line in mainland China, pending clarification from the quality watchdog over traces of possibly harmful metals.

Rite Aid Corp., the third-largest U.S. drugstore chain, on Thursday posted a smaller quarterly loss, aided by stronger sales......

The United States and China differ on how quickly they can resolve their economic disagreements, but not on the general goals, U.S. Treasury Secretary Henry Paulson said on Friday after meeting China's top two leaders.

Two months of talks between General Motors Corp., Renault SA and Nissan Motor Co. have resulted in little progress toward a possible alliance, according to the Wall Street Journal and Detroit News.

High-level executives from Japan's Sharp Corp. traveled to South Korea last week to visit LG.Philips LCD Co. Ltd., as Philips seeks a buyer for its 32.9 percent stake in the Korean LCD firm, Taiwan media reported on Friday.

Billionaire Richard Branson on Thursday committed to spending all the profits from his airline and rail businesses an estimated $3 billion (1.6 billion pounds) over the next 10 years on combating global warming.

Britain's FTSE 100 index is seen opening down 26 to 28 points on Friday, financial bookmakers said

Three quarters of parents of children eligible for a child trust fund (CTF) opened the account within the first year of the scheme's operation

The United States will not seek $1.3 billion (683 million pounds) in back oil royalties on some Gulf of Mexico drilling leases but is negotiating a deal with BP and Shell to make payments on those offshore tracts in the future

The Department for Transport announced today that Stagecoach Group Plc had been awarded the contract to run the South Western franchise